Diane Bourdo, CFP®, Private Wealth Advisor at Treehouse Wealth Advisors, was recently featured in an article on GOBankingRates titled “7 Ways To Know You’ve Found the Right Financial Advisor for You.”
The article discusses the actions you should take and questions you should ask as you learn more about each advisor. By the end of the vetting process, the piece highlighted, you should feel comfortable in the following:
You’re Aware of Their Qualifications: The barrier for entry for financial advisors is relatively low, and not all designations are created equally. Ask about the advisor’s qualifications for a better sense of their capability.
You’ve Researched Their Background: Learning about an advisor’s history is essential in the vetting process. Referrals from friends and family can trim the field to the more reliable candidates.
They Match With Your Financial Goals: Advisors specialize in different areas. Narrow your search to those that have experience helping clients with similar financial goals.
You Like Their Communication Style: You want to build a relationship with your financial advisor, and communication is key. Ensure you feel heard, understood, and safe as you engage in conversation with your potential advisor.
You Know They Will Personally Be Managing Your Money: Ask the advisor who will be managing your money, as third-party money manager adoption is increasing.
You Are Comfortable With How They Get Paid: Consider asking whether the advisor gets paid by commission, offers financial planning for a fee, and other questions to learn how exactly the advisor gets paid.
You Know Their Plans for Remaining in the Industry: Know the advisor’s long-term plans, especially if you’re looking for an ongoing relationship that carries on into your retirement.
Diane dove further into the importance of identifying your goals as you search for your ideal financial advisor, whether your main focus is investing, retirement planning, or another area. “Assess your personal and financial goals, your assets and your liabilities…It’s important to figure out precisely what you require a financial advisor for in order to sort out which advisors may be a better fit than others,” said Bourdo.
Treehouse Wealth Advisors is a fee-only wealth management firm based in the San Francisco Bay Area, serving innovators, legacy builders, and impact makers. The firm provides personalized financial planning, investment management, and wealth advisory services, helping clients navigate significant life changes while working toward fulfilling and meaningful lives.
